Category Archives: Debt Relief

When you fall behind on a credit card bill, a loan payment, or other type of outstanding debt, your outstanding balance may be picked up by a debt collection agency. From that point on, you may receive regular phone calls, letters, and other correspondence as the debt collectors attempt to recover the debt. Having overdue … Continue reading What Does it Mean When Debt Goes to Collections? →

Two of the most common debt repayment methods out there are the debt snowball vs. debt avalanche methods. Both methods work by speeding up the debt repayment process. But one method prioritizes the smallest balance first, while the other method prioritizes debt with the highest interest rate first. The goal is to stick with either … Continue reading Debt Snowball vs. Debt Avalanche →

Terms like credit utilization ratio and debt to income ratio may sound fancy, but all these ratios really do is give lenders an idea of how much debt you have on a monthly basis. Lenders generally look at these ratios to determine whether or not you’re a reliable borrower and whether or not you can … Continue reading What is a Good Debt to Income Ratio for a Mortgage? →

In this economy, many of us are in the same boat: tiny paychecks and big expenses. Unexpected emergencies – such as medical crises, broken appliances, home or car damage, etc. – can make this situation so much worse. As a result, many Americans find themselves living paycheck to paycheck with lots of debt and poor … Continue reading How to Get Out of Debt With No Money and Bad Credit →